PulteGroup (PHM) Misses Q1 EPS by 1c

PulteGroup (NYSE: PHM) reported Q1 EPS of $0.19, $0.01 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.24 billion.

Home sale revenues for the first quarter were $1.1 billion, which was comparable with the prior year. Revenues for the quarter reflect a 2% increase in average selling price to $323,000, offset by a 2% decrease in closings to 3,365 homes. The higher average selling price was the result of price increases realized across all three of the Company's national brands: Centex, Pulte and Del Webb.

For earnings history and earnings-related data on PulteGroup (PHM) click here.

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